Century Therapeutics (NASDAQ:IPSC) Releases Earnings Results, Misses Expectations By $0.06 EPS

Century Therapeutics (NASDAQ:IPSCGet Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06), FiscalAI reports.

Century Therapeutics Price Performance

IPSC stock traded up $0.03 during midday trading on Thursday, reaching $1.99. 203,748 shares of the company were exchanged, compared to its average volume of 1,434,740. The firm has a market capitalization of $357.99 million, a price-to-earnings ratio of -1.74 and a beta of 1.57. The business has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $2.22. Century Therapeutics has a one year low of $0.43 and a one year high of $3.04.

Institutional Trading of Century Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. acquired a new position in Century Therapeutics in the second quarter valued at $25,000. Qube Research & Technologies Ltd bought a new stake in shares of Century Therapeutics during the 2nd quarter valued at about $38,000. Raymond James Financial Inc. bought a new stake in Century Therapeutics in the second quarter worth approximately $51,000. AQR Capital Management LLC boosted its holdings in shares of Century Therapeutics by 358.9% during the 1st quarter. AQR Capital Management LLC now owns 111,079 shares of the company’s stock worth $53,000 after buying an additional 86,875 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Century Therapeutics by 109.1% during the 4th quarter. Bank of America Corp DE now owns 66,043 shares of the company’s stock worth $67,000 after buying an additional 34,466 shares during the period. 50.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IPSC has been the subject of a number of research reports. HC Wainwright increased their target price on Century Therapeutics from $2.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Mizuho began coverage on shares of Century Therapeutics in a report on Wednesday, May 27th. They set an “outperform” rating and a $8.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Century Therapeutics in a research report on Thursday, July 2nd. Finally, Wall Street Zen cut Century Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Century Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.75.

Read Our Latest Stock Analysis on IPSC

About Century Therapeutics

(Get Free Report)

Century Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of allogeneic cell therapies for cancer. Utilizing induced pluripotent stem cell (iPSC) technology, the company engineers “off-the-shelf” natural killer (NK) and T cell candidates designed to target hematologic malignancies and solid tumors. By harnessing iPSC-derived immune cells, Century aims to overcome challenges associated with patient-derived therapies, such as manufacturing variability and treatment delays.

The company’s proprietary platform integrates gene editing, synthetic biology and scalable cell expansion processes to generate a pipeline of product candidates.

Featured Articles

Earnings History for Century Therapeutics (NASDAQ:IPSC)

Receive News & Ratings for Century Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.